PHILIP WELCH is a founder of Somerset Partners and Director of Multi-Family operations. He has more than 20 years of experience in commercial real estate and is involved in all acquisition, debt and equity financing and capital market activities for the firm. Prior to founding Somerset, Mr. Welch was a vice president in the Princeton (NJ) office of LCOR and an associate in real estate finance at Donaldson, Lufkin & Jenrette. Mr. Welch holds a B.S. from the University of Colorado and an MBA from the Wharton School.